Bitcoin Forum

It's ridiculous. A coin is launched, difficulty jumps to 5,000 in 10 minutes. This is getting to the point where only the big whales can mine something. Someone should make a coin accessible for the less hi-tech people. It's really no fun anymore.

I would make a coin that rigs cannot extramine.

this is serious business....its not supposed to be fun. people built big mining farms, putting up their own money, taking on risk. Let the whales swim free, in the end they make networks stronger.

when it's getting too serious it's not funny... i know all farm owners don't agree but someone should think about the end users as well

+1

Go with Proof of Stake instead like NXT.

You get out what you put in right?

Put in a little, get out a little - but whatever you get is infinitely more than 99.99999999% of the rest of the world's population!

Imagine being in BTC at the start and only getting 1250 coins in that first year. You'd be a millionaire now! (Well done to those who took a leap of faith and made a fortune)

Cfx.

with one 290 or whatever you can still make money. i guess without taxes etc. i could live from 3x r9 290 cards with mining and trading.

got nothing against people who invested money... i was thinking about the poorer folks as well

Coin creators are just as much to blame. Come on, it's not like they couldn't design the coin so that it's not instamined to death at launch. They either choose not to, or don't have the technical ability to do so. I guess a lot of coins follow the same design because it works. It doesn't mean it's the best design.

This is what the masses want, and this is what the masses get. A lot (not all) of coin makers are in it for the money. They don't care whose hashpower it is. Only how much hashpower there is. The term fair launch leaves a bitter taste in your mouth if you haven't spend over £1000 on a mining rig, know how to compile wallets, or mine a coin the second it is released.

You can't honestly tell me that a coin maker couldn't just adjust the difficulty to avoid a launch instamine?

I really would like to see more experimentation in coins. These copy-pastes are soul destroying.

^i agree. people are releasing new copycat coins hoping to get rich in a few weeks. where is quality...

doge is fun, and it's making money.

https://i.imgur.com/Jn26SWn.gif

too less for the low end user

hey, i am working on a concept of low-tech coin, much more human-based mining.
If anyone want to talk, lets create board and discuss it

who cares!  'low end user' pennies, VIP pennies, it all adds up to the same bitcoin.  

This is typically what happens in a market. Novelty, copycats, overrsaturation, stabilisation.

Basically the same coin is being released over and over again, then launched, instamined, quick sell, play around on the exchange, then death.

Not hard to spot that all these coins are being released by members with 2 or 3 posts. Reeks of multiple accounts. It's the same repeating pattern over and over again. The innovative coins tend to be launched by people with higher forum status, regular users, and have a genuine interest in discussing cryptocurrency models.

They should just put all these coins under the umbrella crapcoin and realise they are the same coin. Long term value? Worthless.

Maybe a few gems will shine out of the muck, but there is a lot of muck, and a lot of muck spreading. Nothing wrong with getting your hands dirty. It's profitable. It is just a repeating pattern, though. There's no innovation there.

it would be great if more people would be interested in.

we need an algorythm that it's not based on computer power, low and high end user should have the same chance to get the coins

a coin for average "Mary" and "John" to mine ;)

You don't say?!?!?!

Jobcoin. Get coins from your 9-to-5.  ;)

That is why we have CPU only coins.

I'm waiting for proof of burn.

Dayum

Botnets have an advantage when CPU mining.

Have you checked out http://www.devtome.com/doku.php?id=cpu_mining ?

So easy on the computer that even a raspberry pi can run plenty of workers, but also resistant to botnets...

-MarkM-

CPU coins are probably even worse, select few have powerful unreleased GPU miners and can basically own a CPU coin w 100 mh/s rigs when honest users are mining away with their 50kh/s processors.

It's just the way things are everywhere, money comes to money, rich become richer.

But I agree, there should be a coin with max h/s that one person can mine. No idea how to implement it though, whales can just setup multiple miners and wallets etc.

+1 good point.

Good luck doing that with the form of CPU mining described at http://www.devtome.com/doku.php?id=cpu_mining

-MarkM-

CPU coins have no real advantage for average user.

I recently bought a Rasberry Pi as part of my journey of discovery into mining. Have barely used it. I should really learn how to mine on it. It's all up and running ready to go.

The current bunch do not, true.

But the people who most need "help" are those with no jobs thus no ability to buy even little block-eruptors to mine with; what such people do have though is lots of time.

So what they need is something that they can scale up a whole lot if they have lots of time, but that botnet owners and rich folks probably will not want to spare the time to mess around with.

Thus the http://www.devtome.com/doku.php?id=cpu_mining concept...

-MarkM-

maybe in future implementations this would be an issue (i.e. coffeeMUD, AES-NI instruction-based mining), but it is likely the present cohort of CPU coins have been compromised by proprietary GPU miners.  

i'm sure cryptocurrency will change a lot in the coming months. maybe this niche (which could get real big) will also be covered. hopefully.

Scripting MUD-characters is all about code branching, making decisions based on what is going on around the character.

Thus is it not at all suited to GPUs.

But even a little Raspberry can run a surprising number of workers.

But also, trying to have a botnet run thousands or millions of workers is likely to be a horrible mess, demanding way the heck more time just to keep them all on track than the botnet owner is likely to think worthwhile. Basically they'd have to hire gold-farmers to supervise the "workers", and at that point the botnet is not needed, since each of the hired gold-farmers would have a computer already; the limit on how many workers it can run is more to do with the human who is supervising it than with the power of the computer or the number of computers.

(Because unlike World of Warcraft, a MUD uses very little bandwidth and computer-power, so you can run way the heck more MUD-characters per machine than you could World of Warcraft characters; and the triggers the scripts act on are text, they don't have to do image-recognition to figure out what they are "seeing".)

-MarkM-

+2

OP smells like socialism to me. Equality of opportunity, which is what mining offers, is not the same as equality of outcome. In fact I can think of very few business opportunities where the small guy with 0.01% of the production capacity for a given coin will, statistical variance aside, receive proportionately the same reward as the big guy with 5% of the production capacity. It's the ultimate free market where those who take the big risks receive big rewards, and those who risk less receive a commensurately lower reward. But it's always proportional.

So it sounds like you want to put limits or set controls on the crypto "free" market ?


Either fish or cut bait........

I think mining is ridiculous.  Why do we need to "mine" to get free currency. Why can't we work??

Mining is work. Like using earthmoving equipment to dig ditches, it just happens to be somewhat equipment-oriented work.

-MarkM-

How dare you!  ;)

no, don't take it this way. it's just that difficulty has gone so high that if bitcoin was released last month it would have reached the same difficulty it has today. difficulty is still good concept, but not so faaaaaaaast

what network stronger? they mine the crap out of them then dump and move to the next....repeat repeat the only people who want new coins to keep being created and exchange listed are flash miners.

I really dont understand how so many people can be so angry about how the difficulty on coins skyrockets.

The fact is that the way these coins are being launched is a little bit flawed in my opinion.

Coins started with super low difficulties before and it made sense because the total hash power out on the internet was very small compared to what it is now since everyone has gone out and bought equipment, myself included.

With the equipment that is now out their ready to be added to a coin in an instant the difficulties should be starting at higher values.

That aside, basically I see it like this:

1. If you spend $300 on a card that gives 650 khash and the total equipment out their mining at that point is 100Ghash then you will make X
2. If you spend the same amount and the total equipment out there available has a mining speed of 400Ghash you will make X/4

(this would be on average as hash power is spread through so many coins, the fact is the average will not change)


At the end of the day you are still making the money you would have been, you are just not making the exponential gains that the higher hash power people have.

**If I missed something let me know**

Different coin, same formula. It'll keep happening until it stops becoming profitable.

^agree and to be honest most of the new cash comes from the noobs, when noobs won't pump anymore on every copycat there will be a problem. quality coins could really make a difference.

mining is saturated with bullshit devs.  <<-- correction

Another facepalm topic. Yes mining is oversaturated, AMD producing high amount of GPUs, ASIC prototype farm at every corner and miners jumping to new coin faster than in one second.

There are still many projects with good potential, but nobody will tell it to you, of course. Look "search" button, spend hours by reading forums and with analyzing and then tell something. Yes easy going noobs will probably still mine litecoin (in better case) or sell GPU because "its not profitable".

No one would miss the next "doge" "eac" "quark" "ltc" noob not near to go away...

I'm actually rather enjoying what's happening at the moment, there's 3 coins a day being released and the big-rigs are scrambling to jump on everyone, but only 3-6 of the 100 released in the next fortnight will go big.

So it's actually spreading out the miners so the average single GPU miner has a chance. Just wait for a coins release, let the big rigs have their fun and then start mining when they all leave to chase the next new coin and the difficult dives to something more manageable.

You just need to be the smart miners who mine the right coins. And to be honest i'm very doubtful any of these memecoins are going to last more than 2 months. Except doge... and maybe catcoin.